Hedge Funds Stop Shorting Danish Cement Firm Hit by Trump Flurry
- FLSmidth was among Europe’s most shorted stocks last year
- Rising copper prices are also helping FLSmidth’s recovery
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FLSmidth & Co. A/S was among Europe’s most-shorted stocks last year. Now, hedge funds are abandoning their bets against the company as Donald Trump’s surprise election win has investors bracing for a construction boom that could revive an industry battered by years of hardship.
Short interest in the Danish maker of mining equipment and cement production lines fell to 3.1 percent last week, according to Markit data. That’s down from 6 percent before Trump won the U.S. election, and marks the lowest level of short interest in FLSmidth since 2009.